Investors were optimistic about a recovery in the Japanese economy and that the Asian region will recover before the rest of the world as data points continue to provide a positive outlook, this time Japan’s machine orders report. The data were a surprise and the yen appreciated against the dollar for the second straight day.
The yen appreciated against the dollar on Friday testing bids around the 89.45 level. Fujii said that the Japanese economy is still very unstable stating that it’s still too early to know if a second extra budget is needed. Next interest rate decision is Nov 19.
Men yen is getting to the lowest number ever, this is a disaster for Japan, it is going down up to 86.30. read on FX Insider the news tool on ACM platform that level is key, and a rebound could take to 87.04
Yen is bearish on last friday, the USD has been reporting a few good economical report since 2 weeks later. i believe the USD is still driven bullish.
anybody have another view? please share…
Some are saying that Yen is the best performing currency in the past two and half years. It gained on USD 38% in that period and 41% against GBP. But this is not being supported by the fundamentals and the technicals. Then there is a looming likely intervention by the BOJ. If this is so then JPY seems to have topped and will face a drastic fall in the future? USD is also expected to weaken more. Gold is rising to its historical high prices. I think we need to consider gold in the background as well. Can anyone give expert opinion on how does it all correlate?